Joint Ventures 

 

 

 Whether it be a sole proprietorship, Joint Venture, Limited Liability Company, Partnership or Corporation, GSP is experienced in the formation and structuring of each of these very different types of different business entities, and will help guide you towards the one that works best for you. 

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Sole Proprietorship

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A single owner. It is the simplest and most common type of business organization, however there is no way to separate you and your sole proprietorship. if you are sued, your personal assets are at risk.   

  

Partnership

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A partnership is an association of two or more persons who carry on as co-owners of a business for profit. The rights and responsibilities of partners are usually set forth in a partnership agreement.

 

Corporation

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Forming a corporation is more involved than a sole proprietorship or partnership. Corporate formalities and records must be maintained. Corporations are automatically “C” unless an election is made for an “S” Corporation. An “S” Corp allows profits of the company to pass through to the individual owners, avoiding “double taxation”. 

 

Limited Liability Company “LLC”

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In an LLC the owners are referred to as members, and is operated by a manager(s) who handle day to day activities. 

 

we at GP are experienced in forming all types of business organizations and the preparation of Partnership Agreements, Corporate By –Laws, shareholder agreements, and LLC Operating Agreements.